Over the last five years, Steve Carroll scaled Kelso Industries from zero to $1.1–$1.2B top line with 3,500+ employees across mechanical, electrical, and plumbing (MEP) — powered by 29 acquisitions and an “empowered, decentralized” operating model. In this wide-ranging conversation, Steve and John unpack the Kelso flywheel (construction ➜ retrofit ➜ maintenance ➜ service), how to choose what to centralize vs. decentralize, why leadership pipelines matter more than playbooks, and the realities of integrating owner-led companies at scale. We also dig into data center demand, non-union strategy, and the “survival mode” moments that nearly derailed the journey.

If you’re thinking about multi-location expansion, commercial/industrial MEP, or acquiring while operating, this one’s a blueprint.

What You’ll Learn
-The Kelso flywheel: use construction as an entry point, expand into retrofit, sell maintenance, earn lifetime service

-29 acquisitions without breaking culture: partnering with operators, light-touch integrations, and when to standardize

-Centralize vs. decentralize: cash & risk centralization; empower branches on P&L, customers, and ops

-Building leadership pipelines (trades & military) to keep growth from stalling

-Data centers & industrial demand: where the growth is and what capabilities matter
- How a billion-dollar platform still treats growth like survival

🎙️ Host

John Wilson 

🎙️ Guest

Steve Carroll (Kelso Industries) 

💼 Partners

💼 Extra Special Thanks to Service Scalers!

We’ve been partnering with Service Scalers to maximize our Local Service Ads (LSAs) and optimize our Google My Business profiles, and the results have been incredible. With hundreds of thousands in sales and 900+ calls in a single week, GMBs are now our top-performing organic lead channel.

 Want to learn how Service Scalers can do the same for you?

 🔗Check Them Out Here 

💼 Shoutout to Quick Staffers LLC

 Need trained HVAC & plumbing CSRs at a fraction of the cost? Quick Staffers LLC specializes in placing top-tier global talent with the best SOPs and scripts.

 🔥 Get $1,000 off your first placement HERE

🔨Sponsored by WeSupplyTrades — Thousands of Plumbing, HVAC, and Hydronics parts shipped fast. 

Sign up free, save big, and get 20% off your first order with code OWNED20 HERE

Send Us Mail!

More Ways To Connect with O&O

• John's YouTube Channel
• Weekly Newsletter
• Owned and Operated

Leave a Review

John Wilson, CEO of Wilson Companies
Jack Carr, CEO of Rapid HVAC

📌 Disclaimer: Some links may include UTM parameters or affiliate relationships, meaning we may earn a commission if you make a purchase. Episodes may feature sponsors, but all opinions expressed are our own.